Ultimate Products PLC Announces Share Buyback and Capital Reduction

The latest update is out from UP Global Sourcing Holdings ( (GB:ULTP) ).

Ultimate Products PLC has announced the purchase and cancellation of 6,810 ordinary shares as part of its ongoing share buyback program. This move reduces the company’s total issued share capital to 86,697,747 ordinary shares, impacting the total voting rights and potentially affecting shareholder interests. The share buyback is managed through Shore Capital Stockbrokers Limited, and the transaction reflects the company’s strategic efforts to manage its equity structure and enhance shareholder value.

The most recent analyst rating on (GB:ULTP) stock is a Buy with a £182.00 price target. To see the full list of analyst forecasts on UP Global Sourcing Holdings stock, see the GB:ULTP Stock Forecast page.

Spark’s Take on GB:ULTP Stock

According to Spark, TipRanks’ AI Analyst, GB:ULTP is a Outperform.

UP Global Sourcing Holdings’ strong valuation and strategic corporate events, including share buybacks and an employee share scheme, are the primary strengths, offering potential for both income and capital gains. Financial performance remains solid with effective cash flow management and a stable balance sheet, although technical analysis suggests potential short-term volatility.

To see Spark’s full report on GB:ULTP stock, click here.

More about UP Global Sourcing Holdings

Ultimate Products PLC is a prominent player in the homeware industry, owning several leading brands such as Salter and Beldray. The company specializes in various product categories including small domestic appliances, housewares, laundry, audio, and heating and cooling. With a presence in over 38 countries, Ultimate Products caters to a wide range of retailers, from large multi-channel retailers to smaller national chains. Headquartered in Oldham, Greater Manchester, the company employs over 370 staff and has additional offices in China and France.

Average Trading Volume: 248,924

Technical Sentiment Signal: Sell

Current Market Cap: £63.81M

See more insights into ULTP stock on TipRanks’ Stock Analysis page.